WeChat Pay reached over 300K retail stores

The number of offline retail stores integrated with WeChat Payment has exceeded 300,000 according to data released in during a WeChat Payment partner conference.

Over 200 million users have linked their bank ATM cards with WeChat, which allows auto-deduction from the corresponding bank account while they make payment using WeChat. In addition, WeChat fund transfer users are 2.5 times more than WeChat Hongbao users.

30% customers of McDonald’s made payment using WeChat, the top payment option along with cash payment (30%) and followed by Alipay (21%).

Non-bank payment institutions in China processed a total number of 25.895 billion transactions or 16.51 trillion yuan in 2015, an increase of 101.47% and 102.83% respectively according to People’s Bank of China. Wherein the mobile payment reached 5.633 billion transactions totaling 23.46 trillion yuan.

Alipay and WeChat Pay are the two most popular mobile payment products in the market in China. UnionPay is making a threat with mobile QuickPass and partnerships with ApplePay and SamsungPay.